LISA HIATT

Financial Services Manager

United Community Bank

Member FDIC

As the use of one’s time becomes more and more precious, community banks are committed to providing opportunities for customers to maintain their finances on the go. While online and mobile banking have helped improve the ability for customers to manage their bank account from home or while traveling, there are now additional finance management techniques that will help enhance security and save time.

Card Management Apps – Card management apps allow customers to manage debit and credit cards through the use of a smartphone. These apps provide an additional layer of security by placing control into the user’s hands. Consumers are now able to turn cards “on” or “off”, customize interactive alerts and much more. Implementing a card management app helps to mitigate risk by allowing detection of unauthorized activity, establishing spending limits, controlling merchant categories, restricting usage by an expandable map, using GPS to control purchase areas and more.

Person to Person Payment – This online technology allows customers to transfer funds from their bank account to another individual’s account via the internet or mobile phone. This process is entirely secure and involves the use of shared keywords between the payer and payee so that no personal information, such as an account number, needs to be shared.

Mobile Wallet – A mobile wallet allows credit or debit cards to be carried in a digital format on a mobile device. Instead of using a physical plastic card to make purchases, customers can pay with a smartphone, tablet or smartwatch. A virtual account number allows card details to remain secure. The mobile device sends a unique, one-time passcode to the merchant’s terminal that doesn’t contain actual card information, like a name or card number. Mobile wallets offer the convenience of making quick purchases in mobile apps, as there is no need to enter card information since it is already stored within the mobile wallet. Purchasing in store is also made easier and faster, all a customer needs to do is hold up the device to pay.

Incorporating these apps into your routine will provide you with more direct control when managing finances. Visit with your community bank to discover new, secure technology that will help save time and reduce risk when managing your finances.